D&H Welding Electrodes India approves conversion of 2.5 lakh warrants

D&H Welding Electrodes India Ltd has announced that the Board of Directors of the Company at its meeting held on March 29, 2010, has approved the conversion of 2,50,000 (Two Lakhs Fifty Thousand) Convertible warrants of Rs. 22.00 (Rupees Twenty Two only) each, by allotting equal number of fully paid equity shares of Rs. 10.00 (Rupees Ten only) each at a premium of Rs. 12.00 (Rupees Twelve only) per share, in accordance with the SEBI Guidelines.

The allottees include Harsh Kumar Vora (HUF) - 165000 shares and Suchita Kakrecha - 85000 shares.

The stock closed the day at Rs.21.10, down by Rs.0.65 or 2.99%. The stock hit an intraday high of Rs.21.95 and low of Rs.21.

The total traded quantity was 6108 compared to 2 week average of 12954.

Source : Equity Bulls

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